Ganga Bath Fittings Ltd, a Rajkot-based manufacturer of bathroom fittings and sanitaryware products, is launching its IPO on June 4, 2025, aiming to raise ₹32.65 crores through a combination of fresh issue and offer for sale.
🏭 Company Overview
Ganga Bath Fittings Limited, based in Rajkot, Gujarat, is a leading manufacturer of premium bathroom accessories and sanitaryware products, including ABS showers, health faucets, and taps. Originally established as a partnership firm in 2018, the company transitioned into a public limited entity in 2024, showcasing its steady growth and commitment to quality and innovation.
Lot Size & Investment Details
| Appy as | Price Band | Lot Size | Share | Appy Upto |
| Retail (Min) | ₹46 – ₹49 | 1 lot | 3,000 shares | ₹147,000 |
| Retail (Max) | ₹46 – ₹49 | 1 lot | 3,000 shares | ₹147,000 |
| S-HNI (Min) | ₹46 – ₹49 | 1 lot | 3,000 shares | ₹294,000 |
📊 Financial Highlights
| Financial Year | Revenue (₹ Cr) | Net Profit (₹ Cr) |
|---|---|---|
| FY 2022 | ₹82.16 | ₹0.68 |
| FY 2023 | ₹709.31 | ₹10.39 |
| FY 2024 | ₹675.97 | ₹20.82 |
🎯 Objects of the Issue
The net proceeds from the IPO will be allocated toward the following objectives:
- Capital Expenditure: To fund the purchase of advanced equipment and machinery for expanding production capacity.
- Debt Repayment/Prepayment: To reduce the company’s existing borrowings and strengthen the balance sheet.
- Working Capital Requirements: To meet day-to-day operational expenses and enhance liquidity.
- General Corporate Purposes: To support strategic initiatives, business expansion, and overall corporate needs.
📈 IPO Review & Recommendation
✅ Strengths
- Established Market Presence: Ganga Bath Fittings Ltd has built a strong foothold in the bathroom fittings industry with a well-diversified product portfolio.
- Experienced Management: The company is led by promoters with deep industry expertise and a clear vision for growth.
- Growth Opportunities: There is significant potential for expansion in both domestic and international markets, driven by increasing demand for quality sanitaryware products.
⚠️ Risks
- SME Platform Listing: Being listed on the SME platform may result in relatively lower liquidity compared to mainboard IPOs.
- Competitive Industry: The sanitaryware and fittings segment is highly competitive, with the presence of well-established domestic and global players.
📝 Recommendation
Backed by a strong market presence and a solid track record, Ganga Bath Fittings Ltd’s IPO offers an attractive opportunity for investors seeking medium to long-term growth. However, potential investors should weigh the liquidity and competition risks, and are advised to conduct thorough research or consult financial advisors before applying.
